Senate tax bill would increase taxes on families earning less than $75,000

Source: Heather Long, Washington Post (Paid Registration)

The tax bill Senate Republicans are championing would give large tax cuts to the rich while raising taxes on American families earning $10,000 to $75,000 over the next decade, according to a report released by the Joint Committee on Taxation, Congress’s official nonpartisan analysts.

Most of the hit to poor and working-class Americans would come from the Senate Republicans’ push to insert a major health care change into the tax bill. Republicans are repealing the requirement that all Americans buy health insurance or face a penalty, a move that would lead to 13 million more uninsured Americans, the Congressional Budget Office has said.

Read Full Article: Senate tax bill would increase taxes on families earning less than $75,000

 

Tags/Keywords

taxes, tax reform, senate


 
 

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